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Sunday, February 28, 2010

Gambia, Banjul Cost of Living January 2010

LOCATION: Gambia is in Western Africa, bordering the North Atlantic Ocean and Senegal.

ECONOMY: Gambia has no confirmed mineral or natural resource deposits and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing consists of the processing of peanuts, fish, and hides. Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. Banjul is the main urban area of Gambia and holds the country's economic and administrative centre including the Central Bank of Gambia.

Banjul has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Banjul is currently ranked 177 overall, most expensive place in the world for expatriates to live, out of 276 international locations. The cost of living overview for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively less expensive compared to other cities with a rank of 253 out of 276.

Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is relatively more expensive compared to other cities with a rank of 48 out of 276.

Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is equally expensive on average compared to other cities with a rank of 146 out of 276.

Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is equally expensive on average compared to other cities with a rank of 139 out of 276.

Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is equally expensive on average compared to other cities with a rank of 144 out of 276.

Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is relatively more expensive compared to other cities with a rank of 21 out of 276.

Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is relatively less expensive compared to other cities with a rank of 256 out of 276.

Miscellaneous costs related to stationary, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively more expensive compared to other cities with a rank of 66 out of 276.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is relatively more expensive compared to other cities with a rank of 57 out of 276.

Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is equally expensive on average compared to other cities with a rank of 161 out of 276.

Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is relatively less expensive compared to other cities with a rank of 239 out of 276.

Your exact customized cost of living index for Banjul is based on which of the above basket groups as well as the comparison location you select in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, Banjul is ranked as an extreme hardship location with a hardship index of 40%.

Your exact customized hardship index premium for Banjul is based on the comparison location that you select in the Calculators.